Intrapreneurship and Financial Performance | Example Answer | AQA A-Level Business

In this video we develop an exam answer to a 9-mark question from AQA A-Level Business (2018) on the link between intrapreneurship and improved financial performance.

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Is there a recommended number of linked points needed for L3?

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Hi I had a go at this question. Can you please let me know how i can improve my answer?
Intrapreneurship is where businesses enable employees and managers to demonstrate entrepreneurial behaviour in their work to the benefit of their employer.

One-way intrepreneurship can improve the financial performance of a business is that it will be more likely to result in more innovation in the business. This is achieved by providing some time for employees to work on personal projects. For example, Google employees were able to develop Gmail through this method as well as the PlayStation which was developed by a Sony employee. As a result of development of innovative products that were unique, the company was able to gain competitive advantage as the products were unique and new compared to the existing products that were sold in the market, therefore they were able to charge a premium price as the customers were willing to pay due to the product differentiation. This led to the company attaining greater profit margin, increasing the profitability of the company.
Building cross functional teams to lead innovation projects, could also improve the financial performance of the business. This is because employees would find the job more satisfying as a result of collaborating and sharing ideas with other employees from different departments. This would then improve labour morale. Which would save the business money as the company would not need to spend as much money on training and recruitment, as existing staff are less likely to leave the company. This would increase the profitability of the company due to a decrease in costs.